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Today’s war headlines:
- US bombs two mine-laying rocket launchers on Larak Island, which could, and may have, landed mines in the Gulf of Oman.
- Iran bombs Jordan in response.
- US President Donald Trump says “we’re going to hit them hard,” which sounds like TACO to me.
In short, the US made a tiny strike, and Iran massively escalated, as it can these days. Neither side appears to want it to escalate further, which suggests whatever is happening to oil in the Strait of Hormuz is with the permission of Iran.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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